Solved

Because of the Existence of Comparative Advantage, the Total Output

Question 103

Multiple Choice

Because of the existence of comparative advantage, the total output of goods is higher when each producer


A) produces many different goods.
B) produces at the midpoint of its PPF.
C) specializes in the production of one good or a few goods.
D) makes both intermediate and final goods.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q98: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above table

Q99: Resource use is allocatively efficient<br>A) when marginal

Q100: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above

Q101: An increase in the production of capital

Q102: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above

Q104: Production efficiency occurs when production<br>A) is at

Q105: Most students attending college pay tuition and

Q106: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above

Q107: Over the past several decades, the United

Q108: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the figure